05:54:01 EDT Sun 21 Jul 2024
Enter Symbol
or Name

Robix Alternative Fuels Inc
Symbol RZX
Shares Issued 6,379,766
Close 2014-05-16 C$ 0.50
Market Cap C$ 3,189,883
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Robix opens Corris Marine division office in Montreal

2014-05-20 14:28 ET - News Release

Mr. Nathan Hansen reports


Robix Alternative Fuels Inc. has officially launched its Corris Marine division with the opening of its Montreal office, in the Old Port of Montreal district.

The Robix Corris Marine division intends to own and operate shipping tankers that will transport refined oil products along established global shipping routes. In addition to producing shipping revenue, it is intended that each tanker will host a Robix clean ocean vessel (COV), which is an oil spill recovery vessel, designed with the capability to recover oil in rough and debris-laden sea conditions, as described below. Once installed on a tanker, the COV will be readily deployable to react to oil spills in the heavily travelled established shipping routes regionally and globally.

Robix, including its Corris Marine division, has completed comprehensive revenue models, and the financial analysis supports the creation of an initial fleet of tankers. Robix is currently in discussions with several tanker owners, and the corporation is evaluating non-dilutive financial structures to acquire these tankers.

The current plan of management of Robix contemplates the installation of a COV when commercially feasible on each tanker. The COV is an ocean vessel, catamaran-hull barge design, capable of recovering oil from water, in virtually any conditions, especially in rough seas (40-foot COV is stable up to Beaufort 6, or eight-foot ocean waves). Contra-rotating drums lift oil/water fluid from the surface of the ocean, and scavenger blades scrape the oil/water fluid off the drums into storage tanks within the catamaran hulls.

"Oil spills very often occur near oil pipeline port facilities where oil is off-loaded to tankers and in well-travelled oil shipping lanes, making revenue-generating tankers a natural host for the COV system," commented Nathan Hansen, president and chief executive officer of Robix. "Our strategy is to generate revenue from the shipping of oil while being ready and able to service a global region in the event of an oil spill with a readily deployable COV system on standby. Robix has identified revenue potential from multiple sources, including shipping oil, COV standby fees, as well as emergency recovery and response revenue from deployment of the COV solution."

In addition to the launch of the Corris Marine division, Robix wishes to announce the grant, subject to regulatory approval, of stock options for 444,000 shares to directors and consultants at an exercise price of 50 cents per share, expiring on May 21, 2017, under the corporation's stock option plan.

Finally, Robix will be hosting its annual general and special meeting at Radisson Hotel & Conference Centre, 6620 36th St. NE, Calgary, Alta., Canada (northeast Calgary), on May 30, 2014. Shareholders and interested persons are invited and encouraged to attend the meeting, which will include an update from management.

We seek Safe Harbor.

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